Adviser Investments LLC Boosts Holdings in Apple Inc. (AAPL)
Adviser Investments LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 82,133 shares of the iPhone maker’s stock after acquiring an additional 2,979 shares during the quarter. Apple comprises about 1.7% of Adviser Investments LLC’s holdings, making the stock its 14th biggest position. Adviser Investments LLC’s holdings in Apple were worth $12,956,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Contravisory Investment Management Inc. boosted its stake in shares of Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group boosted its stake in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares during the last quarter. Brand Asset Management Group Inc. boosted its stake in shares of Apple by 75.3% during the fourth quarter. Brand Asset Management Group Inc. now owns 1,152 shares of the iPhone maker’s stock valued at $182,000 after acquiring an additional 495 shares during the last quarter. Sequoia Wealth Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at $200,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of Apple during the third quarter valued at $201,000. 57.36% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Piper Jaffray Companies increased their price objective on Apple from $201.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein set a $190.00 price objective on Apple and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley increased their price objective on Apple from $234.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Jefferies Financial Group increased their price objective on Apple from $160.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, Loop Capital increased their price objective on Apple to $190.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Apple currently has a consensus rating of “Hold” and an average price target of $211.43.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.09. The company had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $2.73 EPS. On average, equities analysts forecast that Apple Inc. will post 11.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Apple’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is 25.86%.
Apple announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Luca Maestri sold 51,138 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $196.61, for a total value of $10,054,242.18. Following the sale, the insider now owns 27,448 shares in the company, valued at $5,396,551.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,549 shares of company stock worth $29,300,960. Company insiders own 0.05% of the company’s stock.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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